SEC Advisory Committee Identifies Witnesses for New York Meeting
No fraud occurred; the SEC's Advisory Committee on Smaller Public Companies convened witnesses including fund managers from Maverick Capital and Third Avenue Management to gather testimony on Sarbanes-Oxley's regulatory burdens, with final recommendations due in April 2006.
The SEC’s Advisory Committee on Smaller Public Companies held a public meeting in New York on October 14, 2005, to hear testimony from institutional investors about the impact of Sarbanes-Oxley and other securities laws on smaller companies. Witnesses included fund managers from Maverick Capital, Frontier Capital, Ohio Public Employees Retirement System, Gardner Russo & Gardner, Neuberger Berman, Grace & White, and Third Avenue Management. No fraud, charges, or financial penalties were involved—the meeting was part of a fact-finding process leading to a final report due in April 2006.
The SEC’s Advisory Committee on Smaller Public Companies organized a public hearing in New York City on October 14, 2005, to collect testimony on the regulatory burdens imposed by the Sarbanes-Oxley Act and other federal securities laws on smaller public companies. The meeting featured two panels of institutional investors, including fund managers from Maverick Capital, Frontier Capital Management, Ohio Public Employees Retirement System, Gardner Russo & Gardner, Neuberger Berman Genesis Fund, Grace & White, and Third Avenue Management. The purpose was purely advisory—no allegations of fraud, misconduct, or enforcement actions were present. The Committee was established to evaluate whether regulatory costs were proportionate to investor benefits and to recommend reforms to the SEC. The session was held at Columbia Law School and webcast live to ensure public transparency. The Advisory Committee planned to finalize its recommendations after this meeting and submit its official report to the SEC in April 2006. This process was part of a broader effort to improve regulatory efficiency for smaller companies without compromising investor protection.
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- agency on the sec's website at www.sec.gov
- agency sec advisory committee
- Sec Advisory Committee Identifies Witnesses For New York Meeting
- Sec Advisory Committee Established By Sec To Examine Impact Of Sarbanes-Oxley Act And Other Federal Securities Laws On Smaller Companies
- Committee Provide Recommendations To Sec To Assure That The Costs And Burdens Of Federal Securities Regulation For Smaller Companies Are Commensurate With The Benefits To Investors And The Public
- New York Meeting Last Meeting At Which Committee Expects To Hear Testimony From Witnesses Before Publicly Discussing Recommendations
- Committee Present Final Report Containing Its Recommendations To The Commission In April 2006
- New York Meeting Be Held In Columbia Law School's Jerome Greene Hall, Room 103, 435 West 116th Street
- Meeting Be Audio Webcast On The Sec's Website At Www.sec.gov
- Witnesses Present Views As Two Separate Panels, With One Panel Beginning At 1:00 P.m. And The Other Beginning At 3:15 P.m.
- Sec Advisory Committee Identify Witnesses Jane Adams, Maverick Capital Ltd., New York, New York; Tom Duncan, Frontier Capital Management Co., Boston, Massachusetts; William Miller, Ohio Public Employees Retirement System, Columbus, Ohio; Thomas A. Russo, Gardner, Russo & Gardner, Lancaster, Pennsylvania; Judith Vale, Neuberger Berman Genesis Fund, New York, New York; Gerald I. White, Grace & White, Inc., New York, New York; Martin J. Whitman, Third Avenue Management, Llc, New York, New York
SEC ADVISORY COMMITTEE IDENTIFIES WITNESSES FOR NEW YORK MEETING FOR IMMEDIATE RELEASE 2005-149 Washington, D.C., Oct. 12, 2005 - The Securities and Exchange Commission's Advisory Committee on Smaller Public Companies has identified the witnesses it intends to call at its previously scheduled meeting in New York City on the afternoon of Friday, October 14. The witnesses all represent investors in small cap companies, with several investment fund managers, a pension fund manager, a hedge fund manager and a separate accounts manager among those expected to testify. The Advisory Committee was established by the SEC to examine the impact of the Sarbanes-Oxley Act and other federal securities laws on smaller companies. The Committee's mission is to provide recommendations to the SEC to assure that the costs and burdens of federal securities regulation for smaller companies are commensurate with the benefits to investors and the public. The New York meeting is the last meeting at which the Advisory Committee expects to hear testimony from witnesses before it publicly discusses the recommendations it will make at a meeting to be held in Washington, D.C. on October 24 and 25. The Committee is expected to present its final report containing its recommendations to the Commission in April 2006. The New York meeting will be held in Columbia Law School's Jerome Greene Hall, Room 103, 435 West 116th Street, beginning at 1:00 p.m. The meeting will be audio webcast on the SEC's website at www.sec.gov. The witnesses will present their views as two separate panels, with one panel beginning at 1:00 p.m. and the other beginning at 3:15 p.m. The witnesses identified by the Advisory Committee are: 1:00 p.m. Panel Jane Adams, Maverick Capital Ltd., New York, New York Tom Duncan, Frontier Capital Management Co., Boston, Massachusetts William Miller, Ohio Public Employees Retirement System, Columbus, Ohio Thomas A. Russo, Gardner, Russo & Gardner, Lancaster, Pennsylvania 3:15 p.m. Panel Judith Vale, Neuberger Berman Genesis Fund, New York, New York Gerald I. White, Grace & White, Inc., New York, New York Martin J. Whitman, Third Avenue Management, LLC, New York, New York http://www.sec.gov/news/press/2005-149.htm Home | Previous Page Modified: 10/12/2005
SEC ADVISORY COMMITTEE IDENTIFIES WITNESSES FOR NEW YORK MEETING FOR IMMEDIATE RELEASE 2005-149 Washington, D.C., Oct. 12, 2005 - The Securities and Exchange Commission's Advisory Committee on Smaller Public Companies has identified the witnesses it intends to call at its previously scheduled meeting in New York City on the afternoon of Friday, October 14. The witnesses all represent investors in small cap companies, with several investment fund managers, a pension fund manager, a hedge fund manager and a separate accounts manager among those expected to testify. The Advisory Committee was established by the SEC to examine the impact of the Sarbanes-Oxley Act and other federal securities laws on smaller companies. The Committee's mission is to provide recommendations to the SEC to assure that the costs and burdens of federal securities regulation for smaller companies are commensurate with the benefits to investors and the public. The New York meeting is the last meeting at which the Advisory Committee expects to hear testimony from witnesses before it publicly discusses the recommendations it will make at a meeting to be held in Washington, D.C. on October 24 and 25. The Committee is expected to present its final report containing its recommendations to the Commission in April 2006. The New York meeting will be held in Columbia Law School's Jerome Greene Hall, Room 103, 435 West 116th Street, beginning at 1:00 p.m. The meeting will be audio webcast on the SEC's website at www.sec.gov. The witnesses will present their views as two separate panels, with one panel beginning at 1:00 p.m. and the other beginning at 3:15 p.m. The witnesses identified by the Advisory Committee are: 1:00 p.m. Panel Jane Adams, Maverick Capital Ltd., New York, New York Tom Duncan, Frontier Capital Management Co., Boston, Massachusetts William Miller, Ohio Public Employees Retirement System, Columbus, Ohio Thomas A. Russo, Gardner, Russo & Gardner, Lancaster, Pennsylvania 3:15 p.m. Panel Judith Vale, Neuberger Berman Genesis Fund, New York, New York Gerald I. White, Grace & White, Inc., New York, New York Martin J. Whitman, Third Avenue Management, LLC, New York, New York http://www.sec.gov/news/press/2005-149.htm Home | Previous Page Modified: 10/12/2005